How to write a check from one bank account to another?

csoffice · ‎July 09, 2024

My company recently opened a new commercial money market account. Our owner used a company check to make the first deposit into the money market account. Ideally he would have made a transfer but he didn't.

I'm not sure how to record the transaction. The check was written from our business checking account to the new money market account. When I try to write a check the money market account isn't an option under "Pay to the order of" (since it is set up as a bank account not a vendor.)

How can I properly record this transaction?

FishingForAnswers

@csoffice Probably the easiest option is to set up an Other Name for the 'Pay to the order of' field.

Other than that, fill out the check in QuickBooks as you usually would. The only difference is that, instead of picking an Expense or COGS account at the bottom of the Write Checks window, you would select the money market account instead.

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FishingForAnswers

@csoffice Probably the easiest option is to set up an Other Name for the 'Pay to the order of' field.

Other than that, fill out the check in QuickBooks as you usually would. The only difference is that, instead of picking an Expense or COGS account at the bottom of the Write Checks window, you would select the money market account instead.

csoffice

Thank you!

ZackE

Thanks for reaching out to the Community, csoffice.

You can write checks in QuickBooks from your Write Checks window.

Here's how:

In the top menu bar, go to Banking, then Write Checks.
From your Bank Account drop-down list, specify an account where the money was taken from.
Use your Pay to the Order of field to enter who your check was issued for.
Specify an Ending Balance, No., Date, and Amount.
Use the Print Later or Pay Online options to specify whether you need to print your check at a later time or process an online payment.
Enter any other necessary information in the available fields.
Select Save & Close.

Afterwards, you can record a bank deposit if necessary.

In the event you're unsure whether you should be entering your transactions this way, you can check with an accounting professional. If you're in need of one, there's an awesome tool on our website called Find a ProAdvisor. All ProAdvisors listed there are QuickBooks-certified and able to provide helpful insights for driving your business's success.

I've also included a detailed resource about writing checks with may come in handy moving forward: Create, modify, & print checks

If there's any additional questions, I'm just a post away. Have a lovely Tuesday!

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How to write a check from one bank account to another?